Last Updated Oct 14, 2008 3:57 PM EDT
But today, Lafley must face the music. He must bear the fretting of shareholders at the firm's annual meeting in Cincinnati.
Shareholders, many of them fiercely loyal P&G retirees, are worried that the blue chip stock has become, well, just a stock like any other. They are used to P&G's shares being a steadfast Rock of Gibraltar in any market storm.
Although P&G's shares bounced back nicely yesterday to $63.29/share and are trading somewhat higher so far today, they had taken a 13.2 percent plunge during the recent market meltdown, hitting a 52-week low of $54.92/share on Friday.
So, Lafley will have to reassure his critics.
What's more, P&G is being hit with a "Say on Pay" resolution submitted by the National Legal and Policy Center. With it, Lafley is taking it on the chin.
The resolution from NLPC President Peter Flaherty reads: "Procter & Gamble CEO A.G. Lafley is making over $25 million a year. I understand that he can walk away with an additional $80 million. At the same time, his employees and customers are watching their jobs and retirement funds evaporate. It is too bad that the P&G board has not done its job, but it is understandable. Many of the directors are similarly overcompensated."
Management recommends voting against the resolution.